Pelosi: "It Is Clear We Must Enter an Era of Austerity"

Pelosi: "It Is Clear We Must Enter an Era of Austerity"

That's the sound of the Democratic Party's leader in the House caving on the argument that motivated Democrats for the past three years; or 80 years, if you want to get smart about it. But that's the statement in support of the Reid Plan: "It is clear we must enter an era of austerity; to reduce the deficit through shared sacrifice."